“We’ve been able to grow our acreage position in SWISH to 2,000 acres now and that’s part of a broader 2,700 acreage position across the greater Anadarko Basin,” he says.

Prentice notes that the next step is to double or triple that 2,000-acreage position over the next 6–12 months, while focusing on core operated development units where material reserve growth will emanate from.

]]>Tue, 09 Jul 2019 00:00:00 +1000https://www.proactiveinvestors.com.au/companies/ceo_focus/314020/brookside-energy-consolidates-high-grade-position-within-anadarko-basin-14020.htmlhttps://www.proactiveinvestors.com.au//upload/MediaFile/Image/2019_07/1562641254_DAVID-PRENTICE.jpgBrookside Energy building cash-flow engine through exposure to Anadarko Basin development drillinghttps://www.proactiveinvestors.com.au/companies/ceo_focus/312962/brookside-energy-building-cash-flow-engine-through-exposure-to-anadarko-basin-development-drilling-12962.html
Brookside Energy Ltd (ASX:BRK) managing director David Prentice updates Proactive Investors on four well development projects known as the Centaur Unit in the STACK Play in the Anadarko Basin, Oklahoma.

Two of these four development wells, in which Brookside holds a 0.3% working interest, have already reached projected total depth and are awaiting completion with the remaining two wells currently drilling.

These development wells are direct offsets to the successful Big Earl 6-15N-10W #1H well which recorded an IP24 of 1,540 barrels of oil equivalent per day.

]]>Thu, 11 Apr 2019 00:00:00 +1000https://www.proactiveinvestors.com.au/companies/ceo_focus/312962/brookside-energy-building-cash-flow-engine-through-exposure-to-anadarko-basin-development-drilling-12962.htmlhttps://www.proactiveinvestors.com.au//upload/MediaFile/Image/2019_04/1554953415_BRK-thumb.jpgBrookside Energy MD details platform for future reserve growth in Anadarko Basinhttps://www.proactiveinvestors.com.au/companies/ceo_focus/312371/brookside-energy-md-details-platform-for-future-reserve-growth-in-anadarko-basin-12371.html
Brookside Energy Ltd (ASX:BRK) managing director David Prentice visits Proactive's Perth satellite studio to recap the past twelve months of work the oil and gas E&P company has done as part of its land leasing and development strategy, and explain the platform for future growth that this has established.

Brookside is focused on the SWISH, SCOOP and STACK plays in the world-class Anadarko Basin in Oklahoma in the US.

“We’re seeing a shift in the way that we store and then discharge energy and the uptake in the electric vehicle space and improvements in battery technology have been impressive,” Prentice says.

He continues, “but I think in the medium to long-term, the hydrocarbon story is really about global growth and consumption and the outlook looks strong … from the petrochemical sector all the way through to the fuel sector.

“We’ll continue to focus on increasing our landholding but also increasing our reserves – ultimately that will be the factor that unlocks the value that’s already built into the business.”

Prentice says the combined Net Present Value (NPV) of US$12.5 million with forecast future net revenues of US$37.75 million, at an NPV per acre of around US$30,000, prove both the strength of the business model and the quality of the acreage. Brookside is actively working to add land in the area to its portfolio.

Prentice says its new Woodford well has shown promising results in the early going.

The oil and gas explorer and producer has also made Australian property investor Casey Capital a substantial shareholder, adding Mark Casey to Brookside's advisory board.

]]>Thu, 25 Oct 2018 00:00:00 +1100https://www.proactiveinvestors.com.au/companies/ceo_focus/310980/brookside-takes-on-property-investor-as-oklahoma-wells-come-onlinehttps://www.proactiveinvestors.com.au//upload/MediaFile/Image/2018_10/1540441380_prentice.jpgBrookside Energy progressing well with land leasing and development strategyhttps://www.proactiveinvestors.com.au/companies/ceo_focus/310460/brookside-energy-progressing-well-with-land-leasing-and-development-strategy-10460.html
Brookside Energy Ltd (ASX:BRK) managing director David Prentice speaks to Proactive Investors about achieving first payout in just 11 months from a well forming part of the company's STACK play in the Anadarko Basin area of Oklahoma, USA.

Prentice describes the milestone as, "a remarkable achievement in the current pricing environment... further endorsement of the quality of the oil and gas reservoirs in the Anadarko Basin."

He continues, "this is obviously going to lead to significantly more reserves per well, and then ultimately to higher valuations per acre, which is really what our business model is all about."

]]>Thu, 13 Sep 2018 00:00:00 +1000https://www.proactiveinvestors.com.au/companies/ceo_focus/310460/brookside-energy-progressing-well-with-land-leasing-and-development-strategy-10460.htmlhttps://www.proactiveinvestors.com.au//upload/MediaFile/Image/2018_09/1536810504_BRK-MELB.jpgBrookside Energy earns almost US$1.5 million from sale of acreage packagehttps://www.proactiveinvestors.com.au/companies/ceo_focus/309989/brookside-energy-earns-almost-us15-million-from-sale-of-acreage-package-9989.html
Managing director of Brookside Energy Ltd (ASX:BRK) David Prentice speaks to Proactive Investors about the successful sale of around 96 partially developed and undeveloped acres from the world-Class oil and gas Anadarko Basin plays in Oklahoma, USA.

"It's another really strong data point to validate our business model. We were able to achieve 80% of the Net Present Value [NPV] calculated for a fully-developed scenario for that acreage, which was slightly higher than we achieved in the previous acreage sale... That capital will be available to be reinvested in our ongoing leasing campaign... the sale of 100 acres effectively leveraging us into a position to be able to acquire 1,000 acres," says Prentice.

]]>Wed, 01 Aug 2018 00:00:00 +1000https://www.proactiveinvestors.com.au/companies/ceo_focus/309989/brookside-energy-earns-almost-us15-million-from-sale-of-acreage-package-9989.htmlhttps://www.proactiveinvestors.com.au//upload/MediaFile/Image/2018_07/1533024711_BROOKSIDEEE.jpgBrookside Energy’s transformational business model validated with successful strategic divestmenthttps://www.proactiveinvestors.com.au/companies/ceo_focus/309290/brookside-energys-transformational-business-model-validated-with-successful-strategic-divestment-9290.html
Brookside Energy Ltd (ASX:BRK) managing director David Prentice explains the company’s strategic focus to Proactive Investors, as a successful case study is revealed to the market. The oil and gas E&P company, which operates in the world-class Anadarko Basin in Oklahoma in the US, has adopted a land leasing and development approach that is “somewhat unique” in Australia, but has a proven history in the US.

“Essentially, we’re acquiring undeveloped acreage across the Anadarko Basin in the hope of having that acreage revalued, as well as get drilled and reserves get booked…we’re very passionate about the fact that this strategy provides the best leverage for our shareholders,” says Prentice.

Brookside today announced the divestment of the first of its non-operated development units that has progressed to ‘full field’ development, at a price per acre that is greater than 10-times the average acquisition cost.